The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-06-23

This showing that after paying back to
the Rtockholdera the capital stock OF :.
600 600 there would remain SOL, ,107 to bt
divided among them, which would be
~ 10 each, which shows the exact value
OF the stock has never been above 100.
-nS PRESIDENT MARpER. &M.
His Wonderful Financial Gnrcer-Formor OF
Speculations lie Was Iu. J.U
Z. L. Harper was essentially self.made
man. That he was in the days OF his sue.
cess. The elements that went to make
bis success in life, nerve, daring and self.
assertiveness, enter very largely into the
financial fatalities that led to bis fall.
Not forty years Of age, his life has been a
romance Of American possibilities. His
boyhood days were spent in Pennsylvania,
on the banks OF tho Allegheny.
Before he was old enough to become
citizen he left his Pennsylvania home and
drlfted down the river to Cincinnati.
Here for aomo time he eked out precar.
ious existence, at last becoming q can
vasser for the sewing machine agency Of
William Sumner & %. While in this
position he accumulated some email
means, and IN 1874 they had 80 Increased
as to enable him to purchase an interest
In the house OF 1. R. Hull & Co., iron
brokers. on Third street, near Vine.
In 1876 the senior partner died in tho
mountains Of Colorado, and Harper con-
tinued the business, changing tho firm
name to that Of E. L. Harper & 90. The
firm grew apace, and business prospered
so much with the young iron broker that
when the year 1879 rolled around he was
enabled to get on the right side OF the
memorable pig iron boom Of that stirring
year, and when prices again ebbed back
to minimum it left Harper wealthy
man. A few years af,erward he obtained
an interest in the Swift's Iron and Steel
Works, controlling and owning the New
port rolling mills. To this .scq uisition he
soon added the mill at Riverside.
In 1882, with Truman B. Handy, Har.
per'being the active spirit, wheat corner
was made in Chicsso.
Harper quit that little deal in grain
some half million dollars ahead. Not go
fortunate though was he in another deal
in wheat in Chicago couple OF years ago.
Then he tried to corner the Chicago grain
sharps, but they turned tho tables, ra-
verssd the corner, and Harper was squeez.
ed as merciessly as he had squeezed them
the year Of 1882. The equeezs was not a
dry one, though, for Harper, to uae the
parlance of the street, "let down on his
brokers'" who were compelled by the
Courts to hold an awfuiiy heavy end Of
the bag. 5.sE j. 4,
The end OF the bag they held was lifted
slightly when Harper gave them some
railroad bonds. The bonds were those Of
the Cincinnati, Columbus 4 Hooking VAL
ley road, a small line with a big name
running from Claysville Junction, O., to
Jetersonville, O., twenty-eight miles in
length, q grasshopper road that Wall
street called two Btreaks OF rust and mort
gage. -
Harper obtained the road in payment
for rails which be furnished from bis roll
ing mills. Tho road WAS unable TO pay,
and the rollin2.mill proprietor forsclosed
on it. A couple Of months ago Phil Ar.
mour, the big pork man, muchly inter.
viewed Ohicagoan, tried to got come
money out Of it by tearing up the rails and
selling them to q junk shop. The farmers
along the line, though, enjoined him in
the courts. lJlsp 2s.,s.
When Harper obtained the road it had
boon washed upon the shore financial
wreck, because OF ita inability to pay for
the rails and right Of way. By means Of q
brilliant scheme OF finance and an en-
craving houee $500, 900 worth Of frat mort.
gage bonds were piled upon it, $500. 900
worth OF income bonds were put on top Of
that as an anchor, and then TO make tho
thing bowling 50 in Wall street way,
stock to the amount OF $500. 900 mora WAS
piled on. Then it was turned over to the
Chicago suckers in payment for the bal
ance on the wheat deal. 1t was cold
day-but Harper didn't get left. Phil Ar
mour, with sll his millions and ndahrewdness,
was left to hold the bag.
After this brilliant financial coup deiat.
Harper went back to his iron mills and
the directory Of the Third National.
When things became burdensome in the
latter he went into the Fidelity, to which
he devoted his entire time, his iron inter
ests being managed by his private score.
tary, q faithful, bright. faced, handsome
young fellow, Albert 2. Gahr, and then
well, thinga went along With Harper until
the crash in June wheat busted things
and made Chicago howl with delight. =
Personally Y. L. Harper IL q striking
looking man. Fully six feet in height,
with q straight figure, rounded by the
portliness that success brings. His face
Is handsome and frank. His cheeks
cheeks are high colored, and Il jet black
mustachs dropped over a good, firm
mouth. His nose is aquilino, and be-
meath his straight, black eyebrows are q
pair Of fine, dark brown eyes, verging into
black. He is pleasant copyersa.ion-
alist, and thoroughly poated on all matters
Of tluance. He is esaentially q home
man, and wRs devoted to his family. & He
never went into society, and was not
known outside Of the business world. ~
His marvellous nerve was never better
exhibited than during the paat week Of
intense suspense and anxiety. He has
stood up against the. terrible reveraeo like
a giant, cool and determined, facing the
inevitable with the nerve OF q Grant. 4
J -